Oppenheimer Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price objective increased by Oppenheimer from $150.00 to $175.00 in a report issued on Thursday morning, MarketBeat Ratings reports. They currently have an outperform rating on the computer hardware maker’s stock.

A number of other brokerages also recently commented on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. DA Davidson reissued a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Raymond James upped their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

NVIDIA Stock Down 3.3 %

NVDA opened at $141.98 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA has a 12 month low of $45.01 and a 12 month high of $149.77. The stock has a market capitalization of $3.48 trillion, a P/E ratio of 66.60, a P/E/G ratio of 1.49 and a beta of 1.66. The business has a 50 day simple moving average of $130.97 and a 200-day simple moving average of $120.32.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA will post 2.67 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the first quarter worth $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter worth $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.